Dong Thap to Develop Industry: Infrastructure Decisive Factor

 

Dong Thap has a key location, with port and river systems and five national roads, thus the province has favourable conditions for economic development. The province is building on these advantages step by step. There are now 300 factories, 30 of them large facilities, and more than 14,000 craft industries and 40 trade villages in the whole province. In addition, the province is forming central production areas in three industrial zones, with total area of 845 ha and other industrial branches located in districts with over 50,000 labourers. Industry in the province focuses on using available material resources from agricultural products such as fish processing, frozen fish, rice processing, instant food, pharmaceutical products and construction materials. The processing industry accounts for over 90 percent of total production value, agricultural and sea food processing makes up around 65 percent.

 

 

Dong Thap ranked 33^rd of 64 provinces nationwide in terms of industrial production value. Industrial production growth remains high, however, the small quantity of major products and unplanned sector structure results in unstable development. To overcome the problem, the province will restructure power sector planning, processing industry and trade village development, and develop the mechanics, construction materials and export pottery sectors.

 

To develop industry in 2006-2010, Dong Thap 8^th provincial party committee congress targeted the industry sector. The sector will try to gain VND10.6 billion in industrial production and annual growth over 300 percent. To reach the target, Dong Thap Industry Department Director Khuc Quang Dung said the industry offered several proposals, in which completing industrial infrastructure is the decisive factor to speeding up industry. Thus the province will focus on completing infrastructure in three industrial zones in the first phase and 10-15 industrial branches with development potential. He also added this was first condition to call for investment. In addition, the province will attract investment, improve the competence of further investment activities, reform administrative procedures and launch priorities for investors.

 

Firms operating in Dong Thap such as Rich Import-Export Joint Stock Company, Phu Binh Company Limited, Duc Loi Company Limited, Co May Private Company, are controlled strictly by the market in term of price and export products. To have successful integration, these firms have invested in modern technology and advanced management standards to improve goods quality and competitiveness.

Dong Thap is continually improving the business environment and investment throughout the province. Industry in Dong Thap is gradually increasing production and attracts many investment projects. On the provincial competitiveness index, Dong Thap ranked 11 of 64 provinces, and 4 of 13 in the Mekong River Delta Region.